Halftime Show: Inflation Back in Driver’s Seat | Chaikin analysis

Yesterday’s market saw a massive sell-off of over 2% in SPY and NDX from market lows. However, the late-day bounce, while promising, was not enough to change sentiment. What this means is that inflation does not go away because the selling occurs on hot CPI prints. In this week’s issue Stock Chart TV‘S half timePete uses the bullish percentage index to discuss the overbought nature of the market.

One of the key sectors that Pete is concerned about is the community banking sector. He examines the $KRE ETF and its relationship to bank indices. If things continue to unfold as we saw on $NYCB News a week ago, Pete is calling for some rough sledding in this division. His overview of the market is that the upward trend is intact. But that doesn’t mean we can’t see further dips, which Pete calls buying opportunities.

This video originally premiered on February 14, 2024. You can watch it here: our dedicated Halftime by Chaikin Analytics Page On StockCharts TV.

You can view all previously recorded episodes. Halftime with Pete Carmasino and Chaikin Analytics from this link.